KENYA

Central Bank, Treasury approve NBK’s acquisition by Access Bank

The Central Bank of Kenya (CBK) and the National Treasury have approved the acquisition of KCB Group’s National Bank of Kenya (NBK) by Access Bank PLC. “As part of the transaction, CBK, on April 4 2025, further approved the transfer of certain assets and liabilities of National Bank of Kenya Limited to KCB Bank Kenya Limited,” CBK said in a statement on Monday.

KCB and Access Bank signed the share purchase in March 2024, setting the stage for the latter to acquire the struggling NBK at 1.25* of its book value. Because the deal involved two listed multinational banking groups, regulatory approvals have taken more than a year and have included approvals from local and regional anti-trust agencies.

(Kenyan Wallstreet)

UGANDA

USE suspends Umeme trading for 30 more days amid gov’t buyout dispute

The Uganda Securities Exchange (USE) has extended the suspension of Umeme Limited’s trading counter by an additional 30 days, citing the ongoing dispute between the electricity distributor and the government over the final buyout amount following the end of Umeme’s 20-year concession.

The USE first halted trading of Umeme shares on March 31, 2025, for a two-week period, which has now been extended until May 14, 2025. The suspension follows Umeme’s official declaration of a dispute with the government, which was formally served on April 11, 2025, to the Ministry of Finance, Planning and Economic Development. “The extension of the suspension is intended to allow for good faith settlement of the dispute between the two parties as per the Concession Agreements, failure of which, the matter shall be referred to arbitration in London,” the USE notice stated.

(Chimp Reports)

TANZANIA

Three new natural gas wells set for drilling in Tanzania

A French oil and gas company, Maurel & Prom, is set to commence drilling three new natural gas wells at Mnazi Bay this June, as part of its broader strategy to bolster gas production in Tanzania. The drilling, which will run through to 2026, follows the company’s October 2024 announcement of an $80 million (approximately Sh208 billion) investment in the Mnazi Bay.

(The Citizen)

RWANDA

Rwanda’s exports to UAE surpass $1.5 billion

Rwanda’s exports to the United Arab Emirates (UAE) increased by 63.9 per cent, from slightly over $951.2 million in 2023 to more than $1.55 billion ( Rwf2.2 trillion) in 2024, shows Rwanda Development Board’s 2024 report. The report indicates that the strong growth in sales to the UAE was key in driving Rwanda’s overall goods export performance.

The UAE remains Rwanda’s largest market abroad, with the Middle East nation accounting for 63.9 per cent of Rwanda’s goods exports in 2024, according to the report. The data implies a seven-percentage increase in UAE’s share of the country’s [formal] goods exports compared to 56.9 per cent in 2023.  Rwanda’s total goods exports amounted to over $3.2 billion (Rwf4.5 trillion) in 2024, meaning a rise of almost 30 per cent, given that they had generated more than $2.46 billion in 2023. According to RDB, the figure includes informal cross-border trade (ICBT). The UAE’s share does not include ICBT.

(The New Times)

ETHIOPIA

Ethiopia, Algeria sign significant agreements to enhance economic and diplomatic engagement

Ethiopia and Algeria have signed a series of wide-ranging Memoranda of Understanding (MoUs) aimed at strengthening their longstanding diplomatic ties and unlocking new avenues for economic cooperation. The agreements marked a significant milestone in bilateral relations, as both nations reaffirmed their commitment to transforming their strong political partnership into a dynamic and mutually beneficial economic alliance.

The MoUs cover a broad spectrum of sectors including trade and investment, science and technology, agriculture, energy and mining, health and pharmaceuticals, academia, space science, and culture and sports.

(Ethiopian News Agency)

SUDAN

Sudan’s Junta head meets Türkiye’s Erdogan at Antalya Diplomacy Forum

Statements via the official Sudan News Agency (SUNA) say that El Burhan held talks with Turkish President Erdogan, focusing on developments in Sudan and efforts to achieve peace, reconstruction and reconstruction, and discuss the most prominent regional and international developments and issues of common interest.

El Burhan expressed his appreciation for Türkiye’s positions in support of Sudan in regional and international forums, preserving its sovereignty and territorial integrity, its continuous support for the Sudanese people, and providing humanitarian assistance to them during the Sudanese crisis. The Turkish president welcomed El Buhan’s visit, “praising the distinguished bilateral relations between the two countries, stressing his determination to push them to wider horizons to achieve the common interests of the two brotherly countries and peoples.” 

The Sudanese Foreign Minister stressed the need to invest in the rehabilitation of schools, health centres, water and housing networks, and support livelihoods to rehabilitate local communities.

(Dabanga)

SOMALIA

Somalia licenses Starlink for internet services

Somalia’s National Communications Authority has granted a license to Elon Musk’s satellite internet company Starlink, paving the way for the launch of its services in the country.

The license was officially awarded during a ceremony Sunday in Mogadishu, attended by government officials and Starlink representatives, according to a statement from the authority.

Representing the company were Ryan Goodnight, senior director of market access, and Micaela Pawlak, market access manager. They said Starlink’s satellite internet services would soon be available nationwide.

Mustafa Yasin Sheikh, director of the Communications Authority, said Starlink’s arrival would support the country’s efforts to expand internet access and improve digital infrastructure.

While Somalia is already connected to several undersea internet cables, officials said the addition of satellite-based service will help extend connectivity to rural and remote areas.

(Shabelle Media Network)